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Global South: Gold-Backed Currencies to Replace the US Dollar
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Let’s start with three interconnected multipolar-driven facts.

First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.”

So is the petroyuan finally at hand? Possibly, but Al-Jadaan wisely opted for careful hedging: “We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the US and we want to develop that with Europe and other countries.”

Second: The Central Banks of Iran and Russia are studying the adoption of a “stable coin” for foreign trade settlements, replacing the US dollar, the ruble and the rial. The crypto crowd is already up in arms, mulling the pros and cons of a gold-backed central bank digital currency (CBDC) for trade that will be in fact impervious to the weaponized US dollar.

A gold-backed digital currency

The really attractive issue here is that this gold-backed digital currency would be particularly effective in the Special Economic Zone (SEZ) of Astrakhan, in the Caspian Sea.

Astrakhan is the key Russian port participating in the International North South Transportation Corridor (INTSC), with Russia processing cargo travelling across Iran in merchant ships all the way to West Asia, Africa, the Indian Ocean and South Asia.

The success of the INSTC – progressively tied to a gold-backed CBDC – will largely hinge on whether scores of Asian, West Asian and African nations refuse to apply US-dictated sanctions on both Russia and Iran.

As it stands, exports are mostly energy and agricultural products; Iranian companies are the third largest importer of Russian grain. Next will be turbines, polymers, medical equipment, and car parts. Only the Russia-Iran section of the INSTC represents a $25 billion business.

And then there’s the crucial energy angle of INSTC – whose main players are the Russia-Iran-India triad.

India’s purchases of Russian crude have increased year-by-year by a whopping factor of 33. India is the world’s third largest importer of oil; in December, it received 1.2 million barrels from Russia, which for several months now is positioned ahead of Iraq and Saudi Arabia as Delhi’s top supplier.

‘A fairer payment system’

Third: South Africa holds this year’s rotating BRICS presidency. And this year will mark the start of BRICS+ expansion, with candidates ranging from Algeria, Iran and Argentina to Turkey, Saudi Arabia and the UAE.

South African Foreign Minister Naledi Pandor has just confirmed that the BRICS do want to find a way to bypass the US dollar and thus create “a fairer payment system not skewed toward wealthier countries.”

For years now, Yaroslav Lissovolik, head of the analytical department of Russian Sberbank’s corporate and investment business has been a proponent of closer BRICS integration and the adoption of a BRICS reserve currency.

Lissovolik reminds us that the first proposal “to create a new reserve currency based on a basket of currencies of BRICS countries was formulated by the Valdai Club back in 2018.”

Are you ready for the R5?

The original idea revolved around a currency basket similar to the Special Drawing Rights (SDR) model, composed of the national currencies of BRICS members – and then, further on down the road, other currencies of the expanded BRICS+ circle.

Lissovolik explains that choosing BRICS national currencies made sense because “these were among the most liquid currencies across emerging markets. The name for the new reserve currency — R5 or R5+ — was based on the first letters of the BRICS currencies all of which begin with the letter R (real, ruble, rupee, renminbi, rand).”

So BRICS already have a platform for their in-depth deliberations in 2023. As Lissovolik notes, “in the longer run, the R5 BRICS currency could start to perform the role of settlements/payments as well as the store of value/reserves for the central banks of emerging market economies.”

It is virtually certain that the Chinese yuan will be prominent right from the start, taking advantage of its “already advanced reserve status.”

Potential candidates that could become part of the R5+ currency basket include the Singapore dollar and the UAE’s dirham.

Quite diplomatically, Lissovolik maintains that, “the R5 project can thus become one of the most important contributions of emerging markets to building a more secure international financial system.”

The R5, or R5+ project does intersect with what is being designed at the Eurasia Economic Union (EAEU), led by the Macro-Economics Minister of the Eurasia Economic Commission, Sergey Glazyev.

A new gold standard

In Golden Ruble 3.0 , his most recent paper, Glazyev makes a direct reference to two by now notorious reports by Credit Suisse strategist Zoltan Pozsar, formerly of the IMF, US Department of Treasury, and New York Federal Reserve: War and Commodity Encumbrance (December 27) and War and Currency Statecraft (December 29).

Pozsar is a staunch supporter of a Bretton Woods III – an idea that has been getting enormous traction among the Fed-skeptical crowd.

What’s quite intriguing is that the American Pozsar now directly quotes Russia’s Glazyev, and vice-versa, implying a fascinating convergence of their ideas.

Let’s start with Glazyev’s emphasis on the importance of gold. He notes the current accumulation of multibillion-dollar cash balances on the accounts of Russian exporters in “soft” currencies in the banks of Russia’s main foreign economic partners: EAEU nations, China, India, Iran, Turkey, and the UAE.

He then proceeds to explain how gold can be a unique tool to fight western sanctions if prices of oil and gas, food and fertilizers, metals and solid minerals are recalculated:

“Fixing the price of oil in gold at the level of 2 barrels per 1g will give a second increase in the price of gold in dollars, calculated Credit Suisse strategist Zoltan Pozsar. This would be an adequate response to the ‘price ceilings’ introduced by the west – a kind of ‘floor,’ a solid foundation. And India and China can take the place of global commodity traders instead of Glencore or Trafigura.”

So here we see Glazyev and Pozsar converging. Quite a few major players in New York will be amazed.


Glazyev then lays down the road toward Gold Ruble 3.0. The first gold standard was lobbied by the Rothschilds in the 19th century, which “gave them the opportunity to subordinate continental Europe to the British financial system through gold loans.” Golden Ruble 1.0, writes Glazyev, “provided the process of capitalist accumulation.”

Golden Ruble 2.0, after Bretton Woods, “ensured a rapid economic recovery after the war.” But then the “reformer Khrushchev canceled the peg of the ruble to gold, carrying out monetary reform in 1961 with the actual devaluation of the ruble by 2.5 times, forming conditions for the subsequent transformation of the country [Russia] into a “raw material appendage of the Western financial system.”

What Glazyev proposes now is for Russia to boost gold mining to as much as 3 percent of GDP: the basis for fast growth of the entire commodity sector (30 percent of Russian GDP). With the country becoming a world leader in gold production, it gets “a strong ruble, a strong budget and a strong economy.”

All Global South eggs in one basket

Meanwhile, at the heart of the EAEU discussions, Glazyev seems to be designing a new currency not only based on gold, but partly based on the oil and natural gas reserves of participating countries.

Pozsar seems to consider this potentially inflationary: it could be if it results in some excesses, considering the new currency would be linked to such a large base.

Off the record, New York banking sources admit the US dollar would be “wiped out, since it is a valueless fiat currency, should Sergey Glazyev link the new currency to gold. The reason is that the Bretton Woods system no longer has a gold base and has no intrinsic value, like the FTX crypto currency. Sergey’s plan also linking the currency to oil and natural gas seems to be a winner.”

So in fact Glazyev may be creating the whole currency structure for what Pozsar called, half in jest, the “G7 of the East”: the current 5 BRICS plus the next 2 which will be the first new members of BRICS+.

Both Glazyev and Pozsar know better than anyone that when Bretton Woods was created the US possessed most of Central Bank gold and controlled half the world’s GDP. This was the basis for the US to take over the whole global financial system.

Now vast swathes of the non-western world are paying close attention to Glazyev and the drive towards a new non-US dollar currency, complete with a new gold standard which would in time totally replace the US dollar.

Pozsar completely understood how Glazyev is pursuing a formula featuring a basket of currencies (as Lissovolik suggested). As much as he understood the groundbreaking drive towards the petroyuan. He describes the industrial ramifications thus:

“Since as we have just said Russia, Iran, and Venezuela account for about 40 percent of the world’s proven oil reserves, and each of them are currently selling oil to China for renminbi at a steep discount, we find BASF’s decision to permanently downsize its operations at its main plant in Ludwigshafen and instead shift its chemical operations to China was motivated by the fact that China is securing energy at discounts, not markups like Europe.”

The race to replace the dollar

One key takeaway is that energy-intensive major industries are going to be moving to China. Beijing has become a big exporter of Russian liquified natural gas (LNG) to Europe, while India has become a big exporter of Russian oil and refined products such as diesel – also to Europe. Both China and India – BRICS members – buy below market price from fellow BRICS member Russia and resell to Europe with a hefty profit. Sanctions? What sanctions?

Meanwhile, the race to constitute the new currency basket for a new monetary unit is on. This long-distance dialogue between Glazyev and Pozsar will become even more fascinating, as Glazyev will be trying to find a solution to what Pozsar has stated: tapping of natural resources for the creation of the new currency could be inflationary if money supply is increased too quickly.

All that is happening as Ukraine – a huge chasm at a critical junction of the New Silk Road blocking off Europe from Russia/China – slowly but surely disappears into a black void. The Empire may have gobbled up Europe for now, but what really matters geoeconomically, is how the absolute majority of the Global South is deciding to commit to the Russia/China-led block.

Economic dominance of BRICS+ may be no more than 7 years away – whatever toxicities may be concocted by that large, dysfunctional nuclear rogue state on the other side of the Atlantic. But first, let’s get that new currency going.

(Republished from The Cradle by permission of author or representative)
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  1. Notsofast says:

    the noose is tightening around the ponzi west and their monopoly money. without the petrodollar demand for the dollar will wither and die. gold and silver are spiking and even bitcoin is up to over 21,000, the collapse of the dollar has already begun.

    this is where it gets dangerous, as the cornered rats are being destroyed financially and on the battlefield as well. at some point they will no longer be able to keep up their charade and they will need to change the narrative, either through the next false flag or the next plandemic, (perhaps more deadly than covid) to double and triple down on the destruction of civil rights and liberties over the last two decades, in order to “protect” us.

  2. @Notsofast

    Honestly, I think the powers that be in the West will simply tighten their grip on power slowly but surely. Like the frog being slowly boiled to death. Anything more would provoke rebellion. Many Americans and Europeans are vocally supportive of Russia now. This trend will only increase with time naturally. The conflict has passed it’s inflection point. There’s no stopping the Russian Army now. It’ll just take time till they arrive in Kiev and or Warsaw if needed.

  3. Decoy says:

    My guess is that half of the politicians in D.C. and about 90% of U.S. citizens are clueless as to the negative effect of the USD having to share worlds reserve currency status with a BRICS currency. On the other hand, our top level politicians and deep staters are well aware of the impact. Everything about our economy changes if the R 5 + currency takes hold, and I think it will. Our borrowing cost on $ 31 trillion of debt will probably triple in 10 years. A good part of our success is our ability to print money well beyond what our economic numbers indicate should be printed and our ability to keep interest rates on the borrowed money well below what it would be without reserve currency status.
    We have bet the farm on the results of the war in Ukraine. Unfortunately, we selected as our partner a broken down nag of a country. Ukraine was massively corrupt and almost dead broke BEFORE the war started. The Biden Administration has made a monumental blunder with this bet and is now similar to a gambler throwing in all his chips. Desperation is never a pretty sight.

  4. anonymous[343] • Disclaimer says:

    The United States needs to blow up. Hopefully, it will not take the rest of the world with it. What a bunch of assholes.

    • Agree: JR Foley, Justrambling
  5. Notsofast says:

    imo, one of the key russian objectives was to destroy the u.s. reputationally and to reveal the neocons as the impudent, impotent, idiots that they are. putin having studied the disgusting hubris of western plutocrats for two decades, fully understood what he was dealing with and was able to totally predict their behavior. this allowed him to spend 8 years perfecting next gen weapon systems and disengaging from the dollar, while building gold reserves in preparation for the throughly predictable sanctions and proxi military response.

    the world is watching putin make monkeys of these morons, as they burn up their arsenals and their economies, exactly as the russians and chinese planned. the world is watching and it’s cheering.

    • Agree: brostoevsky
    • Replies: @brostoevsky
  6. Pixo says:

    Seething gold bugs and third worlders have been predicting the collapse of the dollar every single year since 1980.

    Go ahead, short the dollar, buy ponzi “digital assets.” See what happens.

  7. @anonymous

    But the rats and mice on the continent would all be killed! Horrible!

    Those things with two legs don’t matter. The rats and mice are much more important!

  8. Panadechi says:

    The monstrous transnational banking plutocratic globalist colossus, engendered after the Second World War, is crumbling before our eyes. This is very good news for sovereign nations.

    • Agree: inspector general
  9. @Pixo

    In another year or two it won’t be just gold (very infrequently) and silver getting exchanged by country folks. Also on the menu will be rutabagas, squash, onions, potatoes, apples and eggs. Town folk, stuck with fluoridated water (aka sick water) will be swapping their valuables for well water. Though the taste quality and relative lack of contaminants will vary, informed folks will begin turning to well water.

    • Replies: @CelestiaQuesta
  10. Alita99 says:

    If Pepe doesn’t think he’s working for The System, he is mistaken.

    • Disagree: Hulkamania
  11. Biff says:

    Go ahead, short the dollar, buy ponzi “digital assets.” See what happens.

    No thanks, but if I had to pick one of the two it certainly wouldn’t be the debt-drenched dollar.

    • Agree: Bro43rd, Realist
  12. Digital gold currency

    About all I got from that link is that Digital Currency has a LOT of problems.
    As for the “Gold” part, I found this:

    The Problem With Gold-Backed Currencies

    In the first place, there isn’t enough Gold in the world to back all the money in circulation, and in the second, I don’t see what would keep “Digital” money from being debased same as coins and “paper” have been in the past.

    This looks to me like a scheme to do nothing more than bypass the US Dollar. If all the trading is done only within small groups of nations, and the exchanges are kept in balance, it might very well work.

    Until somebody provides a better explanation for all this, I definitely don’t expect to ever shove my Digital US Dollar into a machine and receive a few milligrams of Gold in exchange.

  13. RobinG says:

    Many Americans and Europeans are vocally supportive of Russia now.

    Really? So, what’s your definition of many? Or are you in some kind of bubble? Take a look at this shit. (Link shows notable a-holes who signed on.)

    • Replies: @Richard B
  14. Do your financial/retirement investments reflect the views in your articles? I.e., do you really believe in this or are you blowing water?

    • LOL: Almost Missouri
  15. Saba says:

    Putin MUST stop flirting with the zionist mafia.

    Surprise! Arab public gives FAKE Abraham Accords a big thumbs down

    Surprise! Arab public gives Abraham Accords a big thumbs down
    Support for Washington appears weak in the region, while attitudes toward Russia and Iran have shown steady improvement.

    Palestinian demonstrators burn a banner showing a representation of an Israeli flag Israeli Prime Minister Benjamin Netanyahu, Israeli Defence Minister Avigdor Lieberman, U.S. President Donald Trump and Saudi Crown Prince Mohammed bin Salman during a protest demanding the right to return to their homeland, at the Israel-Gaza border, in the southern Gaza Strip, April 13, 2018.

    • Replies: @Saba
  16. Nothing changes in the US until the US dollar and our financial system collapse. As long as the US deep state can create infinite wealth with fiat dollars then they can fund the US military and US internal security state which will keep them in power. When the dollar goes so will the military-industrial complex, the FBI, CIA, Homeland Security, state and local police agencies and the established criminal justice systems. You’d better have guns, ammo, food, a relatively safe place to live and perhaps a stash of silver coins and bars, which will be far more useful than gold.

    • Agree: Irish Savant
    • Thanks: Chuck Orloski
    • Replies: @Realist
  17. @anonymous

    Blow up? It will implode.

    • Agree: Liza
  18. Saba says:

    I should have NOT included the link because the report is not accurate.

    Moroccan and Sudenese strongly are against the FAKE ‘Abraham Accords’ and were demonstrating day and night against normalization, but the zionist media refused to cover it.

    A more positive view of Turkey among Arabs is due to STRONG propaganda against Iran spread by the Zionist mafia, funded by Saudis and UAE. Also because Turks are Sunnis. Otherwise zionist Urdogan has done NOTHING for the Palestinians, only he uses them for his interests when the opportunity arise. Urdogan cannot be trusted for a second.

    Furthermore, the Turks like majority of Arabs are Sunnis.

  19. As for the United States, the 200 million or so Americans now who don’t have enough fiat dollars to pay their bills certainly don’t have enough gold to pay those bills, either.

    For some reason America’s “real money” obsessives don’t want to talk about this problem with their fantasies about restoring a gold standard.

    • Agree: Liza
  20. @Pixo

    Imagine having your money in gold for the past 15 years, you didn’t even beat inflation. Whenever someone thinks gold is that important to monetary policy you’re talking to an idiot who doesn’t know what he’s talking about. So not surprised this appeals to Pepe, something has to be dumb for him to believe in it. Lol

    • Replies: @Realist
  21. What a bunch of nonsense.

    Nobody hates the US dollar more than me, but there is absolutely nothing Russia, China or anyone else can do about dollar dominance at this time. It doesn’t matter how many nations switch to trading in petroyuan or petrorubles or whatever because the issue is not the medium of exchange, but rather the issue is the medium of storage.

    There is no other liquid asset in the world that stores value as well as the USD. Gold and silver are (vastly) superior stores of value to the dollar, but they aren’t nearly as liquid. And they are a pain in the balls to store.

    The dollar is not going to be knocked off its perch by a new fiat or semi-fiat currency. The dollar will lose its status as the world’s reserve currency when it hyperinflates to 0. Not before.

  22. @Decoy

    You didn’t even spend $100bn on Ukraine and that ‘spending’ is mostly sending already built things and using their sticker prices for cost accounting.

    The Ukraine war is irrelevant in the grand scheme of things for the US or NATO. If it mattered, they’d have a thousand ATACMS, hundreds of tanks and so on already. Not to mention there would be a full ban on transporting Russian oil and secondary sanctions on anything Russian.

    Russia can’t escalate this war because their trash country of cheap webcam hoes, drunk peasants and corrupt politicians that would make Jews blush would get crushed at any point on the escalation ladder.

    • Replies: @Decoy
    , @Derer
  23. @brostoevsky

    It wouldn’t be bad if we used Russian laws on these Russian fans. We can start by either imprisoning for their opinions on the war or draft them and send them to fight. Both Russian policies. Lol

    • Replies: @Rich
    , @Stonewall Jackson
  24. @Decoy

    Printing money doesn’t work if the other side doesn’t use it.

    • Agree: Realist
  25. @Notsofast

    A part of me thinks that a financial/economic war was planned to be and is the bigger and main component of this conflict. In a way Ukraine is a sideshow to WWIII which is already happening on the markets. The Stock Market is hot trash everyday now. Lol

    • Agree: Notsofast
  26. @Decoy

    America is gonna get a dose of economic reality very soon. It’s not gonna be a pleasant place to be. Glad I left it in my rearview mirror for greener pastures. I got ahead of the curve in Russia. Not by happenstance, but by design.

    • Replies: @doctorb
  27. antibeast says:

    Just in time for this article. The USA just hit its debt ceiling!

    • Replies: @Notsofast
  28. Backward says:

    The China-shill Escobar still peddling the inexistent gold-backed ruble? Essential propaganda to delude the disenfranchised incels posing as intellectuals who read this site.

    • Replies: @werpor
    , @RestiveUs
  29. That will put an end to the printing of easy money under any pretext and sharing among good friends. Then the coins will once again represent the value of work and social wealth as it should be. Furthermore, no group of rogues will value the money of others at their convenience. And that no one would have to be killed for rebelling against the dispossession would be an additional benefit.

    • Agree: Bro43rd
  30. The mag at the front of the photo makes me especially confident in success of the whole enterprise. Out of all faces over there the only true statesman is obviously Comrade Xi. BRICKS reminds me of famous Russian fables by incomparable Krylov. Actually two fables.


    “When partners have no accord,
    Their business always go hard:
    Nobody works, but only strive to strike.
    Once, Crayfish, Swan, and Pike
    Got hired to drag a cart,
    Harnessed themselves, all three, and start
    To move. It could be pretty light
    for them, but to a river Pike is trying to drag,
    While Crayfish, he is pulling back,
    And Swan up to the clouds directs his flight.

    ‘Tis difficult to say, who is to blame.
    Which place is now the cart? The same.”


    One summer day, a monkey
    A goat, a bear, and
    A donkey
    Got the idea to perform as a quartet.
    They got a cello, violins, and music scores
    And settled comfortably outdoors —
    To charm the audience with gentle minuets.
    They struck the chords with ample force, and yet
    No tune, just raspy squeaks. «Oh, wait!»
    The monkey cried,
    «The music would not flow unless you’re sitting right!
    You, dear Bear, sit beside the violin
    Your cello then will have a better sound.
    That’s when the real music will begin
    You’ll see the trees dance in a merry round!»
    They switched their seats according to her claim.
    No harmony, the strings still screeching.
    At once, the donkey brayed «Wrong tune again!
    Now I know why; let’s have another go
    This time we will arrange a single row.»
    Once more, they moved according to his word,
    Alas! Their bows still sounded in discord!
    The hapless team, upset by their trouble
    Began to squabble.
    A wakeful nightingale, who heard the noise below,
    Came down and landed on the nearest bough.
    The band appealed to her,
    «Please, do us all a favor,
    Please tell us why our effort is a failure!
    We have the instruments; we have the music sheets
    Just help our orchestra to choose the proper seats!»
    «Your ears are not keen for music scale»,
    Replied the nightingale with a sweet warble,
    «The skills are key to music, not your squabble.

    Your changing seats, or places, or positions
    Will not help you, my friends, become musicians.»

    Despite terrible degradation of the West and USA , one thing that is important is their consistency. I have yet to see that in their opponents especially with very different agendas among them.

  31. But first, let’s get that new currency going.

    Call it the ‘gaddafi’.

    • LOL: nokangaroos
  32. @Zachary Smith

    The “gold” part is ephemeral IMHO; the problem is that as soon as there is
    another viable method of international settlement the US will have to choose
    between joggers, wetbacks and the military (costing roughly the same) as at
    least one of these is financed on hot air.

    • Replies: @mulga mumblebrain
  33. Mikael_ says:

    As much as I’d like to, I don’t see a gold-backed currency happening.

    I’ve read some Glazyev, and to me he never gets to the core issues, at least in what I’ve read. Which in a way makes sense, as you don’t give away your strategy to your enemies beforehand.

    But certain fundamental points, such as that you cannot introduce a gold-backed currency without money-exchange/-transfer controls as otherwise you/your people likely soon end up without their gold but with other countries’ fiat currency instead, need to be roughly addressed to make such proposals even remotely believable.

    • Replies: @Notsofast
  34. Glazyev and Pozsar, two geniuses suddenly concluding that hard “money” might have some utility after all. Since they both still champion the bullshit of “currency”, they have yet to acknowledge that the entire world’s problems stem from that phony instrument purposely designed to enslave the world’s populations.

    There should be no national currencies. No State should have anything to do with “money”. With real money, as in gold, silver or some other commodity that can’t be conjured into existence, there would be no need for economists, the single largest fraudulent profession on the planet. Governments would be out of the currency/money business since the metals or other commodities are fungible. The miners could mine, the refiners could refine, the mints could mint and all this could happen without any gov’t interference as there is no need for gov’t in that entire chain.

    No more arbitrage. No more creating currency via the process of lending. No more deficit spending. No more wars paid for by printing press. No more gov’t programs that can’t be paid for via direct taxation. No more central banks. No more gov’t stealing purchasing power via inflation as policy.

    The evil that is currency just needs to be done away with.

    • Agree: Bro43rd, H. L. M
    • Replies: @A B Coreopsis
  35. Bro43rd says:

    If you’re not already in it you’re too late anyway, better aquire some real gold & silver. Or you’ll be stuck with just specie/commodity backed digital because that’s the way money is trending.

  36. sally says:

    Everything about our economy changes if the R 5 + currency takes hold, and I think it will.

    I cannot blame the for bidden administration it d/n/h sufficient marbles to play in the Game.. Try Wall Street, the City of London, major US and UK based Global monopoly powered Corporations because it is that group that have been making USA and UK currency and foreign policies since 1947. The greedy elected to serve in government are victims of carrots private for profit monopoly owners and power brokers dangle in front of them.

    The British colonial economic system based on slave labor was overtaken by structurally more efficient, vertically integrated, economic systems of the US and the USSR. US won out at Bretton Woods in 1944 because it had more gold than anyone else. Russia is said to produce its own gold which it is claimed amounts to 3% of the GDP of Russia. The USA is said to have no gold. What do you think will be the outcome of the next Bretton woods?

  37. MLK says:

    Seething gold bugs and third worlders have been predicting the collapse of the dollar every single year since 1980.

    This brings to mind the trader saying, “That which is obviously right is obviously wrong.”

    That’s an admonition about running with the herd.

    Because all of us live with money every day, even if just a little bit of it in the form of coins jingling in our pockets, most of us fail to notice that those who have thought about it the most (e.g. Martin Armstrong; Jim Grant) are the most circumspect about making sweeping predictions.

    The 1980s began with the end of the 34 year Bear Market in US Treasuries and a major top in Gold.

    Let’s just say that looking at long term charts is sobering. At least if we’re willing to be honest about what we thought at the time.

    I always watch for what the conventional wisdom is at any moment. Currently that’s not just unshakeable bullishness about China but faith in the technocratic wisdom of the CCP.

    Word to the wise. Unless you’re a member of the tired and decadent ruling class in the West, desperate for some of that CCP perpetual power magic domestically, or in the upper echelons of the governing class in need of help in liquidating your competition, don’t buy into that Safe Space.

    It’s kinda funny when you think about it. Just two years ago, anyone who is anybody declared that if you want to survive the Covid you better plug-n-play China’s response. If your citizenry wasn’t compliant with the whole shebang, lockdowns and anal swabs and such, well then you needed to get their minds right. Maybe tell them you’re “losing patience” . . .

  38. Realist says:

    The crypto crowd is already up in arms, mulling the pros and cons of a gold-backed central bank digital currency (CBDC) for trade that will be in fact impervious to the weaponized US dollar.

    The really attractive issue here is that this gold-backed digital currency would be particularly effective in the Special Economic Zone (SEZ) of Astrakhan, in the Caspian Sea.

    The big problem with digital currency is whether backed with gold or horse shit; it is an excellent tool for controlling populations. Once digital currency exists, economic freedom is dead.

  39. Notsofast says:

    if there is a premium charged on the gold transactions, the gold in question could be replaced into the system. think of bullion company’s that buy and sell precious metals everyday, making their money on both transactions. when you buy you’re going to pay more than spot and when you sell you will get less. the gold would serve as a way to balance the ever changing values of the 5 individual currencies. it also offers a way for other countries to use the currency for export and import purposes.

    • Replies: @Mikael_
  40. Anonymous[670] • Disclaimer says:

    One of the first thing to go in our baloney-based economy will be deficit spending. No more balancing the national budget by borrowing a couple of trillion dollars. That means that the rich will have to pay more taxes; our military will be cut in half; and a whole lot of pork will have to come out of our federal spending (no more paying of local road building and sewer plant building using federal money – to be borrowed later).
    Actually it will be good for the working class to get rid of the privileged class with their always dipping their beaks into the drinking water first – wages will actually mean something. The non-working poor will have to tighten their belts also – no more 300 lbs. ghetto fools eating eating triple bacon Whoppers for lunch, between basketball games – they will have to eat brussels sprouts or potatoes instead.
    The best thing to come out of hard times in America will be the sight of all the wise-guys trying to get tickets on the next flight to Tel Aviv or Aukland – out of America clutching their suitcases full of worthless notes with Grant or Franklin on them.

  41. Realist says:

    gold and silver are spiking and even bitcoin is up to over 21,000, the collapse of the dollar has already begun.

    Bitcoin is a pure and straightforward Ponzi scheme; it has no intrinsic value.

    • Agree: showmethereal
    • Replies: @Notsofast
  42. @Notsofast

    Fiat money is the problem.

    And the zio-controlled US$ is the king of fiat money and the backbone of the zio-controlled US empire.

    • Thanks: Kim Jong Il
  43. Any nation issuing a gold-backed currency can’t control the global price of gold, and so, that nation’s currency is hostage to fluctuations beyond its control. If the issuing nation sets a peg to gold, that peg is subject to the whims of the central bank and state – in other words, the peg is simply another flavor of fiat currency. Thus, while I fervently desire the demise of the fiat ponzi currencies I envisage a lot of practical problems implementing the gold-backed currency.

    In passing, Astrakhan occupies what was the black heart of the Khazarian Empire. Be afraid!

  44. Realist says:

    Seething gold bugs and third worlders have been predicting the collapse of the dollar every single year since 1980.

    Long before that.

    Go ahead, short the dollar, buy ponzi “digital assets.” See what happens.

    Only a fool would invest in a Ponzi scheme or fiat money. But gold has intrinsic value

  45. Rich says:

    One of the big problems with starting a draft in the US, is that the draftees wouldn’t actually be fighting for their own country anymore. The elites are openly hostile to the majority, sneering at their traditions, ancestors and values. What does the US actually represent? Homosexuality, abortion and mutilating children’s genitals? Who’s going to fight for that? The pink haired lady brigade? The US Army failed to meet its recruiting goals this year and had to fudge the numbers so they wouldn’t look disastrous (by counting the 2023 enlistees as 2022 enlistments).

  46. @Zachary Smith

    “there isn’t enough Gold in the world to back all the money in circulation”

    This seems logical, but is it? Why can’t the currencies be re/devalued….in other words is it not just a simple mathematical calculation?

    • Agree: Bro43rd
    • Thanks: houston 1992
  47. Realist says:
    @Zachary Smith

    In the first place, there isn’t enough Gold in the world to back all the money in circulation,…

    At what price for gold, in what currency? Many of the world’s currencies would have to be devalued, especially the US dollar

    • Agree: Kim Jong Il
  48. Publius 2 says:
    @Greasy William

    The dollar already lost 99% of its value. Now I have to pay $850,000.00 for a $55,000.00 house and $4.50 for a 5-cent snickers bar. We are all fucked.

    • Agree: A B Coreopsis
  49. Publius 2 says:

    The best thing that could possibly happen for white people would be for the US federal government to completely disappear.

  50. Realist says:
    @Big Iron 44

    Nothing changes in the US until the US dollar and our financial system collapse.

    That will be a significant turning point.

    As long as the US deep state can create infinite wealth with fiat dollars then they can fund the US military and US internal security state which will keep them in power.

    As long as the rest of the world recognizes the US dollar as the reserve currency, the Deep State can fund the US military and US internal security state, which will keep them in power. If not, it doesn’t matter how many fiat dollars they create.

  51. Notsofast says:

    granted, but it is an indicator of the dollar losing value and investors dumping the dollar. this is exactly what the russians had in mind, in the larger economic world war, even more than the chinese, who have more dollar based assets left. if the chinese wanted to destroy the dollar they could just dump their t-bills, but they’re playing the long game.

    to me bitcoin is a digital means of transaction, not a store of wealth, just as with fiat currency. anyone that uses them as a store of wealth does so at their own risk.

    • Replies: @Realist
  52. Realist says:

    Imagine having your money in gold for the past 15 years, you didn’t even beat inflation.

    The price of gold in US$ has increased 2.2 times since 2008.

  53. @Notsofast

    For “the next plandemic” to be “more deadly than covid” is a pretty low bar, since lately somewhat more honest “official” accounting admits to a 99.7% “survival rate” among (false-positive PCR not-a-test) “cases”….and that is without any “medical” intervention much beyond patented OTC “cold-and-flu” products. The real threat to “the narrative” is the Natural Fact that it is entirely make-believe….including the part about a “gold standard.”

    The “charade” disintegrates completely the moment people can no longer be forced, fooled, and frightened into going along with the scam….into “believing” in what its contrivers will sometimes concede is nothing but a “confidence” scheme. It’s all pure “Ponzi”….and always has been.

    As to how it captures the fevered collective imaginations of the domesticated peoples: “Money for nothin’ and your chicks for free.” pretty-well sums it up. Today the oil-patch “play” is all about one last-ditch attempt to rope-in us surviving Free Wild Peoples who can “live outside the law”….because we’re honest. We “shit us not”….nor anybody “else.”

    The Way to get loose from that tightening “noose,” for the muddled masses confined within the (also-hallucinatory) “global” gulag, is to get-over the crippling sickness that is their own too-precious “self”….which exists solely to turn everybody and everything to shit. The Medicine is not some complicated industrial concoction. It’s not easy to take either, though. Nothing really “safe and effective” ever is.

  54. anonymous[411] • Disclaimer says:

    So long as India and China cannot settle their borders, the former will not trust the latter and China won’t be able to put together the coalition of the rebels, which would include Russia, Brazil and South Africa. Until then, the almighty dollar is the safest thing to trade with and to hold!

    • Disagree: RadicalCenter
  55. Arami says:

    Sweden is one of the colonies of the Jewish mafia in Europe where has a mission to use propaganda to implement Israel’s Oded Yinon project in the region which is an expansionist policy for the interest of the Tribe and the West. This plan is promoting an imaginary state ‘kurdistan’ to be born as ally of Israel for the interest of hegemonic west. To do that, they present the Kurdish terrorists as ‘victims’, like what they did for the zionist Jews during the WWI and after, to steal Palestine.

    One of these propagandists and servant of international zionism is a petty man by the name of Charlie Weimers MEP, from Sweden. He is deeply involved in spread of disinformation against Iran, China and Russia to achieve his goal.

    Charlie Weimers MEP 🇸🇪 Retweeted
    @visegrad24 Dec 14, 2022

    The Polish Parliament tonight declared Russia to be a state sponsor of terrorism.

    Charlie Weimers MEP, a ziofascist, wants to stop JCPOA and brought an amendment to European parliament fora vote where it was DEFEATED.

    Charlie Weimers MEP 🇸🇪
    The EU Parliament votes against suspending JCPOA negotiations.

    • Replies: @mulga mumblebrain
  56. Richard B says:

    Fair enough Robin.

    But it’s worth pointing out that propaganda functions in different ways.
    In WWII, for example, it was merely an echo of the support that was already there. Of course it had its uses. But it was mostly taken for granted. The propagandists didn’t have to work too hard. It had more of a supporting role, as it were.

    This is not the case with Ukraine now. The propaganda in this case comes in the form of either straight-faced lying or hysterical shrieking. In short, WWII was propaganda-supported and Ukraine is propaganda-dependent. This kind of propaganda is too easy to see through and doesn’t last long.

    It’d be great if Ron’s talent for historical writing was directed toward a history of propaganda in the last 100 years or so. He does touch on it both directly and indirectly and, of course, TUR itself is an alternative to mainstream, elite propaganda (what I refer to as Supremay Inc.). Sounds like it could be an interesting project.

    In any event, if one were to take it on I think they might find that propaganda did move, at least in part, in the direction mentioned above. Particularly after The Nuremberg Trials, which combined both straight-faced lying and hysterical shrieking.

    Finally, Supremacy Inc. was always propaganda-dependent, simply because it was always a hostile elite. Unlike previous elites in the West there was never any noblese oblige, no sense of responsibility to social subordinates. On the contrary. Supremacy Inc. has always hated the people of the countries it controls (even its paid proxies and useful idiots). Now, however, it is entirely propaganda-dependent. It can no longer easily manipulate cultural forces they way it could in the past.

    One explanation for that is that it has all but destroyed the culture of its designated scapegoat in the West, whites. Whites now have no institutional power or cultural control, at all. Hence the absurdity of the term White Supremacy. That’s why Supremacy Inc.’s tone has become more strident and its exercise of power more dependent on force, not persuasion, ie; propaganda. In other words, Supremacy Inc. is falling apart. And the reason for this is its movement from being propaganda-dependent to being force-dependent. Because, if force fails, there’s no alternative. Just collapse.

    • Agree: werpor
  57. @Dieboomerdie

    Or you could go fight the neocohens war in Ukraine. When are you joining up? Get off of your keyboard and go fight Nuland’s war asshole.

    • LOL: Ann Nonny Mouse
  58. Ron West says:
    @Greasy William

    Are you serious? The dollar is worth 1 / 100 of what it was worth at the end of ww2.

    • Agree: A B Coreopsis
  59. Mikael_ says:

    No idea what you are trying to tell me.

    Let me phrase my example differently: Glazyev and others need to tell us how they will fight the “bad money drives out good [from circulation, as it is instead hoarded]” principle.
    (As they cannot ensure everybody -or just the vast majority- sees fiat monies such as USD as worthless, after they introduced a gold-backed competitor, they need to use other means. Or they will lose most of their gold-backing to fiat-“backed” tricksters, soon after.)

    • Replies: @Notsofast
  60. @Zachary Smith

    Gold Standard works well only when physical gold moves from place to place; the moment that gold is locked up in a warehouse, and the receipts start doing the work of the gold coins and bars, you have fallen into the trap of the banksters. The warehouse people can always issue more receipts than the gold they hold, and therefore a part of the receipts in circulation are equal to counterfeit notes.

    As for “not enough gold in circulation” argument, it gets the logic the wrong way: if there is going to be a gold standard, then the available monetary gold will automatically reach the level of fiat in circulation. That is, if the fiat in circulation is $30 trillion, and available monetary gold is about 60,000 tons, then gold will be priced at $30 trillion / 60,000 tons = $500 per gram = $15,500 per oz.

    • Agree: Truth Vigilante
  61. @Realist

    And that’s a good thing. Controlling American whites is a universal good. Especially when promoting anti-racism.

  62. @anonymous

    It is not mere borders; there are other very fundamental problems existing between the two giants.

  63. Joe Wong says:

    Roman and Britain collapsed into oblivion over a period of century, it does not mean you cannot call out their inevitable collapse at the beginning of their decline and give them a helping hand to accelerate their miserable demise.

  64. @Realist

    With gold or cash, there are only two parties to every transaction: buyer and seller. But digital currencies have three parties to every transaction: buyer, seller and the f****** bank. And no transaction is complete until the bank accepts it. If the bank refuses the transaction, or refuses to let you draw from your own account, then that sale is gone! In short, you are a slave.

    Wait, it gets even worse; you have to use only bank-approved software wallet; and these wallets can be infinitely programmed! That means prices of articles can be fixed separately for each person! For example, if a person is a diabetic, and he buys pepsi, his wallet may charge him double for it. Or the wallets can be programmed not to allow money to be sent to Mr Escobar’s wallet, for example.

    • Thanks: Realist, Ann Nonny Mouse
  65. Joe Wong says:

    As the French said American GDP is steam GDP which 90% of it is made up by services like greedy lawyer fees, accountant charges, swindler’s loots, etc. In war those GDP will be vaporized like steam, USA GDP will be shrunk to its pitiful real size, 10% what the Americans claimed.

    • Agree: beavertales
  66. Anon[133] • Disclaimer says:

    Global South: Gold-Backed Currencies to Replace the US Dollar

    Maybe, but not in the foreseeable future. Next time you are in Africa or South America try paying with Yuan, Rubles.

  67. Fanta says:

    Everyone speaks as if there is some sort of grand order either for or against some important detail. Fact is there really isn’t, it is chaos. At this grand time on the spinning rock in space it is little less than drugged, drunken, perverted, and power mad psychopaths at every turn. If you think for a minute the current power brokers are going down peacefully you can forget that.

    It would certainly be interesting to turn Davos into glass right about now and build a beautiful marble headstone to mark the event, but we should be so lucky. These crazy bastards are well past their expiration date anyway do you think they give a rats rear end?

    Seems like it is going to get very ugly very soon…

  68. SteveK9 says:

    The problem of America is not maintaining an empire or trade, trade, trade … which Peepee seems to think is all that matters. In the 60’s trade for the US was ~ 6%, because we made everything ourselves (something Russia would be wise to do). America’s problem is that our new Jewish oligarchs are destroying America’s culture/civilization, along with fomenting war everywhere.

  69. IronForge says:

    ZATOCEANIA have always been at War with the EurAsian Continent…

    IRN, which recently joined the SCO, just signed up to join the EAEU.

    Just another step in solidifying the North-South Corridor and the SilkRoad.

    Non-EU TRK becoming an Energy Hub for the SCO/EAEU/CSTO_SilkRoad+NorthSouth pretty much changed the Energy Scenario.

    What the Hegemony+Vassal€U wanted were to scrap direct Long-Term Contracts with Hydrocarbon Providers for the benefit of MktXchgs+Traders skimming off Futures/Delivery Contracts. (E.G., Haebeck touting the DTT/NLD-Europa Xchng).

    Collapsing Moscow and breaking RUS into several Resource Colonies of Hydrocarbon Corporates may have enabled that; but those Schemes have Backfired and Epically ClusterFailed:

    *UKR are no longer a major Transit Hub;
    *NordStreams are destroyed;
    *€URoZone may be supplied by TRK+BLU_Streams and TRK_Hub; but so will Africa and Asia – and they’ll probably buy through the TRK_Hub than through the DTT at “Globally Competitive Pricing” – i.e., Highest Bidder

    PhD Michael Hudson was brutal in his commentaries (detailed descriptions yours truly’s 🤓) stating that €URope – especially DEUtschland – may be de-industrialized and reduced to being a Castle+Autobahn+Hitler+Octoberfest Cultural Theme Park as GBR(Palace Guards/Arthurian Knight+Shakespearean+LOTR+HarryPotter Plays) and FRA(Restaurants/Cafés/Le_Louvre/StreetMimes) are for the <>

    RUS Security Proposals, NordStreams, and SilkRoad would have prevented this Epic ClusterFracked 5h!+5h0w; but the Masonic-Zionist ZATOCEANIA wanted to continue their desperate Proxy+Economic+ViroPathogen+ColorRevolution Wars against the EurAsian Continent to Rule the World…

    Greed and Idiocy – also driving the “Marching Morons” and “Camp of the Saints” Scenarios in the Hegemony…

    • Agree: nokangaroos
  70. Pablo says:

    I believe this all will be played out like a Greek Tragedy. The End is inevitable–for the USA as a World Hegemon. The USA will only be “exceptional” for how far it has fallen. And the shockingly low Standard of Living residents of the USA will be living in once the Collapse of the USA as a Warmongering Bully sets in. The term cornered rats was used to describe the Anglo-Zionist warmongers who infest US Foreign Policy. Good choice. I might use the term Cockroaches to describe the USA warmongers but that would be an insult to cockroaches. It is almost unbelievable that the American People have not risen up and demanded Reform. Real Reform. Althoug in fairness, the Rulers of the USA have a fairly tight grip on their control of Congress persons and Presidents. To name just the proverbial ‘ti of the (sleazy) iceberg’.

  71. Wokechoke says:

    I’m not a gold collector but the concept of having the possession of precious metals is obviously a good personal insurance. It’s like having a Rolex. You can pass through any border exchanging Rolexes. Who would refuse a lump of gold in exchange for looking the other way?

    Obviously it’s there for last gasp survival situations though.

    • Replies: @doctorb
  72. Wokechoke says:

    Dollar is a curruption of Thaler, a unit of silver. Sterling is another and so is the Ruble. Mostly though the currency is a measure of geographic good fortune and military prowess.

    • Replies: @Francis Miville
  73. Realist says:

    to me bitcoin is a digital means of transaction, not a store of wealth, just as with fiat currency. anyone that uses them as a store of wealth does so at their own risk.

    Except very few accept them as payment. And Bitcoins volatility makes it dangerous even short term.

  74. neutral says:

    Having a white women on a coin will not be tolerated in the near future. And it will not just be new mints, like all the white statues being torn down, all coins with white faces will also be destroyed.

  75. @Realist

    Then that is inflation, and by definition you didn´t beat it 😀

    • LOL: Realist
    • Replies: @Biff
  76. Just when there’s a settlement based on a new gold standard, Israeli/US astrophysicists discover vasts amounts of gold on Uranus.

    Newly established joint venture Israel/US mining entity, URANUS MINING LLC.

    • LOL: Realist
  77. Decoy says:

    Your mindset is that the the world consists of the United States and NATO. Sorry to burst your bubble but with the incredible rise of China over the past 40 years much has changed for the non Western world. The BRICS provide all non US aligned countries with an alternative to the US my way or we destroy you way of doing business.
    And your statement that the Ukraine war outcome is irrelevant to the US/NATO is downright bizarre. Actually, the Ukraine war is a bet the farm moment for those two parties. Sole superpower status and world reserve currency status are at stake and they are not trivial matters.

    • Replies: @Wokechoke
  78. Malla says:

    So long as India and China cannot settle their borders

    In many places, there are no borders as such, there are LACs, Lines of Actual Control. The Government of the Republic of India prints its own official maps (and you can get a heavy fine of jail-time if you show the map differently, hopefully, before the nationalist masses have ripped you apart) and the People’s Republic of China prints is own official maps. Both maps overlaps in certain places.

  79. @emerging majority

    With all the egg shortages having been caused by an Avian Virus and the slaughtering of millions of chickens, it’s makes you wonder what else they plan to kill off in their quest to rid humanity of useless eaters.

    I have come to the conclusion that these viruses (Mad Cow, Avian, SARS/COVID, Vaccines, ad infinitum) are bio weapons research pathogens that have escaped (released intentionally and forced on us) from laboratory’s to annihilate the food chain thereby majority of humanity.

    We are under attack in more ways than they want us to know.

  80. Arami says:

    Seyed Mohammad Marandi
    Iran will make the EU deeply regret any foolish move against the IRGC and Iran’s armed forces. That aside, the EU continues to make itself increasingly irrelevant to Iranian trade and business. As the west declines, Iran deepens tie with Eurasia minus the EU.

  81. Alita99 says:

    “Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure–one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.” (David Rockefeller, Memoirs, 2002)

    Symbol of International Business

    “David wanted to build an economic development entity,” one aide later recalled, “that would also be a symbol of international business.” “We don’t want to compete with existing office space,” the banker himself declared, defending the idea of the specialized, trade-related complex. “We want to provide some new use. A World Trade Center seems logical and it seems logical to have it near the banks that service the bulk of U.S. foreign trade… In the years to come, as the project began rising over the skyline of Lower Manhattan, New Yorkers would give the immense twin towers a knowing nickname: David and Nelson.” (American Experience, PBS)

    “It’s all about the money, boys!” (Big Dan Teague, Oh Brother Where Art Thou) And the Oil, of course.

    • Replies: @Kim Jong Il
  82. Alita99 says:

    “One World–if you will–Trade Center”, which was a set of Rockefeller twin towers (“David & Nelson”), but is now a Larry Silverstein needle. I think Chinese offices have the top floors.

  83. SteveK9 says:

    Russia is still not listening to Glazyev. He may still have his position, but so does Nabiullina.

    Pepe would never concede corruption in Russia, or complicated games among the elites for their own benefit … that only happens in the West.

  84. @Pixo

    Believing something will never happen because it hasn’t happened yet is a common fallacy committed by those who are incapable of critical thinking. That having been said, the collapse of the USD is not something that hasn’t happened but rather something that has happened gradually, as the purchasing power of a 2023 USD is only 23 percent of a 1980 USD. Using a real-life example to aid the comprehension of those who are bad at math, which a USD true believer is exceedingly likely to be, in 1980 you could buy more than one pound of average-priced ground beef for 1 USD, whereas today you can’t even buy one quarter of a pound. By contrast, if you bought an ounce of gold in 1980 and held on to it, you would still have 90 percent of your purchasing power, as well as a realistic prospect of that figure increasing, perhaps considerably, while the USD is essentially guaranteed to continue losing value. The only real question is whether the collapse of the USD will accelerate, and there are many reasons to believe it will.

    • Replies: @Palmm
  85. Rentana says:

    Who is this Nabuillina viper? A tatar I can see that…tell me more….

    • Replies: @dogbumbreath
  86. Derer says:

    Russia is the biggest and richest country in the world. Your envy is screaming from your post. On top of that Russia is protected by a massive nuclear arsenal. The game is over, especially for the dimwitted adversaries who only pretend to be far from the deadly cliff.

  87. @Pixo

    Good thing cryptocurrencies aren’t the only alternative to the dollar then, eh?

    That’s called the fallacy of the false alternative, meaning that there are other options conveniently left unmentioned. Real estate here and more so abroad, for one. Also regular NON-digital foreign currency, at least for now.

    We’re moving a bit of savings into currencies other than the dollar and euro — including currencies that were already substantially undervalued relative to the dollar even before the US regime’s especially destructive recent binge of deficit spending (i.e. borrowing and “printing”). Held in banks outside the US / Deviant Warmongers Union / “uk” as well.

    You can stay all in the mighty dollar, and in mediocre insufficently-capitalized and insured US banks, and tell us how it works out.

  88. doctorb says:

    If it’s not too personal, how much of a pain was/is your experience leaving for greener pastures? And what would be your advice on the process, having experienced it?

    It seems like leaving for Russia (or even, to a lesser degree, Hungary or Serbia) exposes you to a lot of opportunities to have your assets seized / expropriated. If you want to retain your U.S. citizenship (presuming here), you’re basically on the wrong side of the law vis-a-vis sanctions, banking, etc., and if you renounce it, you’re stateless for a while, as those destinations (properly, in my opinion) don’t generally hand out papers like candy. Obviously, one can buy one of the ridiculous Caribbean passports, but that seems like a poor stop-gap measure.

  89. Palmm says:

    What’s up with Lula da Silva? He’s like a Schroedinger’s globohomo. A good measure is to see how US/EU mainstream media frames leaders. Putin is obviously demonized, and Xi as well, so there is some evidence there. India gets some bad press, so good news there. But why do “mainstream neo-liberals and leftists” simp for Lula? That looks like a weakness to me. I don’t know enough about South Africa, but it’s more in the Brazil camp, IMO.

    I think monetary system is only part of the “government spending triad.” You finance gov spending through taxes, sovereign debt, and inflation. Ironically, Russia is in the best position on this.

  90. Notsofast says:

    don’t worry, they’ll tear the roof off the sucka.

  91. Notsofast says:

    imo you’re missing the purpose of the gold backed, basket of currencies. they are creating an alternative to the u.s. dollar, to allow trade between nations that is not subject to illegal, arbitrary, sanctions by the zioneocons and e.u. bootlickers, who have thoroughly abused and weaponized the status of the dollar as a world reserve currency. the gold is just used as a method to determine the value of the 5 currencies in relation to one another and also allow countries not using those 5 currencies to use gold as a means of transaction with them. there are other countries that use the u.s. dollar as their national currencies, so they could convert their dollars to gold and trade in that, thus locking the dollar (as well as the euro) out of their system.

    the u.s. dollar is not a fiat currency, it is a ponzi scheme that is backed only by bloodshed, murder and terrorism. fiat currency is not the enemy, the ruble is a perfectly fine fiat currency, backed by a competent government, that is living well within it’s financial means, (unlike the u.s. and e.u. economic basket cases). fiat currencies are supposed to be a means of conducting transactions not a store of wealth. gold is supposed to be a means of storing wealth but this has been totally subverted by the banksters using paper contracts (totaling far more than all the physical holdings in the world combined), to artificially manipulate the price of gold to support their ponzi scheme (and the value of the dollar).

    the true beauty of this simple solution to the hegemon’s financial tyranny, lies in it’s simplicity. the “federal” “reserve” has been using the investment banks like j.p. morgan chase and goldman sachs to suppress the true value of gold, through their phony gold contracts, which will allow gold to finally break free of the artificial constraints placed on it, to inflate the value of the monopoly dollar.

    gold allows them to totally lock the u.s. dollar out of their economic systems, check and mate.

    • Agree: A B Coreopsis
    • Replies: @Mikael_
  92. IronForge says:

    CN¥, JP¥, IN₹, ₽UB, Physical Gold (directly or indirectly via PetroCN¥ Xchng), and Old-Fashioned “Commodity/Goods Barter”.

    IRN and RUS were forced to “decouple” from the U$D+€UR.

    With RUS, IRN, CHN, and IND into the “Non-U$D” Hydrocarbon Commodity+Finished_Goods Trading Schemes, it’s only a matter of time until the U$D get left behind in the EurAsian Continent

  93. doctorb says:

    I’ve often talked to friends who are crypto advocates about what is necessary for them to bribe a border guard with their bitcoin… I feel like about the time they’re explaining how to set up his hot wallet, they’ve lost the thread. Rolexes, gold, etc. seem much more likely to pass the border guard test.

    I would say silver, and I’m sure it will one day be more useful than gold in buying eggs, but $25,000 of silver is *heavy*.

    • Replies: @Wokechoke
  94. @houston 1992

    China has built cities that can house around 350 million people in first world conditions. The blog you mention claims de-globalization will wreck China. The author is wrong. China is slowly filling the cities with consumers to replace what they sell around the world. Things do not have to cross an ocean to gain value and China will still have almost a billion slaves to produce the products to sell to their new middle class. Retarded is the best word to describe those who believe the Chinese wasted their resources building these so called empty cities. They think in long terms not next week like the West’s leaders do.

    The US Federal Reserve Note is dying and its funny that the people on here who think its not have only proclamations as to why its not. Your link ignores a huge reality but at least it tries to convince using some logic. Most of the comments here claiming the US dollar will remain supreme have nothing to back them up and we are expected to regard the posters as all knowing sages.

    • Replies: @mulga mumblebrain
  95. Palmm says:
    @Ray Caruso

    Your math is right, but the economics are incomplete. Most people save and spend most of their money in places like savings accounts, 401ks etc., stores, utilities etc. You can make the same argument against holding USD for investing in a index stock fund. I never understood this argument, as if it was a dunk, because in the best cases, the FED sets, and most central banks set, a “reasonable” amount of yearly inflation.

    • Replies: @Ray Caruso
  96. werpor says:

    I own a considerable quantity of gold and a few bundles of different currencies. As such they have no value. They are not circulating in the economy. They are not in a bank; or otherwise invested. Neither the gold or the money can be confiscated; unlike property where governments maintain a constant demand for their annual stipend. Governments do not demand a share of the revenue — they demand a fixed income, which may be far more than the owner of the property earns.

    All sources of incomes are taxed. Inflation is a tax. Deflation is a tax. By tax, I mean in both cases, government and central bank theft. If say, Russia had a vault filled with gold. It would render sanctions moot. Together with vast resources and an educated work force and an impregnable fortress like land mass, impossible to conquer.

    On the other hand if a country like the U.S. completely indebted to the extent the U.S. is indebted, and where every debt has a counterparty claimant while it’s productive economy shrinks and most people have no savings or gold, neither the people or the country is particularly resilient — government can, and no doubt would, confiscate via taxation and foreclosure everything worth anything.

    The gold and real savings must be universally accessible if a country is to be resilient. Like me. If things got really bad I have resources. I do not worry that the ATM might be closed. Banks in Canada during the truckers protest, froze people’s bank accounts.

    And you are right, one cannot eat ideology. The best way to make money and survive is by avoiding the crowd, and avoiding conventional opinion, and asking what if. I believe nothing. Least of all economists, financial advisers, media, and crystal ball readers.

    The people in Ukraine got sucker punched. Canadians’ during the trucker protest got sucker punched. The prime minister lied to Canadians. The COVID was a cover for so many lies.

    A man with cash in his pocket and enough gold to buy a small house hidden away is well insured. What good is a fat bank account when the ATM is closed? I think Putin figured that out, frustrating the ambitions of a country where its leaders stuffing the ATMs with worthless currency cares nothing for their own citizens.

  97. The Federal Reserve Notes coming collapse is the most likely explanation for all this madness we see in the west.

    The jew banker media mob knows their globalist aspirations are not going to bear fruit and are now trying to lock down the West using the ideological power of communism. They are filling Western nations with low IQ non white people who have nothing in hopes they can hide behind them when the white populations realize they have been sold out.

    Open borders and the drive to take away Americans 2nd amendment rights have to happen/succeed or the jew mob is going to get their usual results. All the people who claims whites are going to allow them to roll over us are wrong. Propaganda is a powerful thing but when the American white population has their saving hyper-inflate all betes are off and the jew mob will be sent packing just like they always are when their Ponzi scheme fiat currencies bottom out. This time they ripped off the whole world and the rest of the world is not coming to the rescue like last time. This time they will be on their own.

    • Agree: werpor
  98. Notsofast says:

    just like the internet, the block chain, at first billed as a means of liberation, is actually a means of control.

    • Agree: Realist
  99. Wokechoke says:

    A good authentic watch will get you out of the fix you are in.

    The official being bribed might even enjoy the exchange.

  100. Wokechoke says:

    Ukraine and possession of same is something like Hegemony.

  101. French deserve this. They’ve voted for it since 68.

    • Replies: @showmethereal
  102. That is, if the fiat in circulation is $30 trillion, and available monetary gold is about 60,000 tons, then gold will be priced at $30 trillion / 60,000 tons = $500 per gram = $15,500 per oz.

    I considered putting in some numbers, but didn’t know which ones to use. Supposedly the US Goverment is sitting on “8134 metric tons” which is “equal to more than 261 million fine troy ounces”. Dividing $30 trillion by 261 million would give a Gold price of nearly $115,000/troy ounce.

    Recall the time in the last century when the official price of Gold went from $20 to $35. IMO the confiscation of the time would be repeated with a more than 50-fold price increase.

    India supposedly has private gold stocks of 20,000 tons. Holders of that gold would be instant millionaires, and would be able to go on a buying spree for which not enough real goods are available in the world. If lumber prices at the Big Box stores were bad during Covid, watch out for the housebuilding spree in India!

    The world economy would be instantly disrupted when the mining of very average Granite rocks started everywhere. And the Au would continue to be cranked out in massive amounts so long as the Bubble lasted. Heck, at some price – probably in the $1-2 million/ounce range – Gold from seawater would be become profitable.

    I can recall reading of two times when Inflation was caused by large amounts of Gold suddenly going into circulation. The first was when the Romans sacked Jerusalem during the first Jewish war. I believe the article said Gold prices dropped 50% in the Eastern Med. region. Later the Spanish started looting the Aztec and Incan Empires, and again prices of European goods increased.

    Heck, if I started adding up the Class Rings, Wedding Rings, even “Gold-Filled” Jewelry laying around here, I might have a tidy pile of New Dollars. I’m not holding my breath about exploiting that new wealth.

  103. I’m all for a gold-backed currency, but if countries like Switzerland can’t pull them off, what makes you think the BRICS can, or the Arabs or the Third World?

    One of Harry Browne’s books in the 1970s had Switzerland ranked second in the world, ca. 25% IIRC, in gold reserve backing the currency. The champion, at ca. 40%?


  104. @Decoy

    “90% of U.S. citizens are clueless as to the negative effect of the USD having to share worlds reserve currency status with a BRICS currency”

    I listened to a talk radio call in show which asked the audience what the most significant events of 2022 were. Nobody talked about how the war in Ukraine has kick-started the fall of the USD.

  105. Miro23 says:

    Off the record, New York banking sources admit the US dollar would be “wiped out, since it is a valueless fiat currency, should Sergey Glazyev link the new currency to gold. The reason is that the Bretton Woods system no longer has a gold base and has no intrinsic value, like the FTX crypto currency. Sergey’s plan also linking the currency to oil and natural gas seems to be a winner.”

    The attraction of gold is that it’s not political. Nowadays, something convertible into gold, has more value than something backed by the “full faith and trust in the US government”. Who exactly still has “full faith and trust” in the US government?

  106. @Greasy William

    Based on your very simple post (you were doubtless alright at True-False questions in grade school, less good when it was multiple choice (high school), and you wouldn’t have fared well in college (multivariate analysis)), you clearly haven’t read Pozsar.

    OTOH you wouldn’t have understood it anyways.

  107. @RoatanBill

    Where you’re headed, there won’t be any currency.

    • Replies: @RoatanBill
  108. Could Pepito be wrong?

  109. @Realist

    But how did you calculate “inflation”? In USD? Thought so. You’re so ignorant that you don’t even realize (“realist”) what you don’t know.

    • Troll: Realist
  110. @Rentana

    Who is this Nabuillina viper? A tatar I can see that…tell me more….

    Same as Jerome Powell, Russia’s Central Bank Governor.

  111. @A B Coreopsis

    I appreciate your long and detailed explanation of your position and / or comment concerning my post, but even with all that effort I fail to see your point.

    • LOL: RadicalCenter
  112. Che Guava says:

    This is off-topic, but I saw mention of it in another thread, forget which.

    Just over ten years ago, U.S. Ambassador to Libya, Stevens, and a few of his staff, clearly involved in illicit weapon-transfers. were all killed.

    This was under the Obama-Biden-Clinton regime.

    An Egyptian Copt. at the time U.S. citizen, was made the scapegoat for it. The excuse was that he’d been making a film called The Kindness of Muslims.

    I only ever saw a trailer, it was both accurate and funny.

    As the scapegoat, he was imprisoned, violating his First Amendment rights.

    This is seriously bad memory-hole stuff.

    Is he out of prison? Is there any way to see the whole film?

  113. Zane says:

    A broken clock is right twice a day which is generally two times more than Escobar. Yes, the dollar is finished. Kaputt. Done. All global trade will henceforth be conducted in Moroccan crypto-dinars backed by Zitcoins mined in northern Iceland. We get it. We really do.


    • Troll: RadicalCenter
  114. Cook-ie says:

    It’s about time the Global South started to put pressure on the U.S and its allies instead of sitting on the sidelines and letting Russia do all the heavy lifting and take all the hits.

    The Global South has to hit European pockets, cancelling orders and putting high tariffs on their goods.

    No free ride fellas!

  115. @Pixo

    People are well aware of inflation, because the gold standard was abandoned and they have been living with inflation their whole lives. Thus, the state, will have a hard time pawning off the inflation on the pawns. Amerikans are no longer naive like Dorothy in Oz.

    Regular average every day people have shorted the dollar by buying real estate on credit. They have done this in a huge way, many of them have gotten fabulously wealthy by being long real estate and short the fiat dollar currency. Because inflation keeps chugging along, sometimes slow, sometimes fast, people are looking for alternatives. The world is desperately seeking a stable currency. Investors have swiss accounts in gold, or gold in a safe, or gold stock mining companies, and more recently the world moved into cryptos.

    Cryptos may have broken the Fed monopoly. Bitcoin, or a stable coin, could provide safety of purchasing power. That means the Fed and the Gov might have to stop inflating in order to keep the world in the hegemon fiat. If crypto becomes a competitor to the dollar, then inflation could go down, maybe to zero.

    If some nation could float a gold backed currency, the world would probably flock to it, and that would also force the USGov and the Fed to compete by making the dollar stable. Predictions that the dollar is going to crash are usually wrong because the US military empire has a vested interest that their currency does not crash. They don’t give a shit about us, they care about their empire and thus they care about the currency.

    On the long term, the dollar has already crashed (but so have the other competitive currencies):

    • Replies: @Pixo
  116. Biff says:

    Then that is inflation, and by definition you didn´t beat it 😀

    If you had a thousand dollars in paper money twenty years ago it didn’t increase in value by 2.2 times, but gold did. Technically that’s a win in the battle of paper vs gold.

    • Thanks: Realist
  117. Sarita says:

    -In the news today-
    navy seal gets head blown off. (Reminder to myself, need to refill fridge with Coke tomorrow).
    The US said he was a deserter, but that he had gotten medals of honour for, as usual, murdering children in Iraq and Afghanistan.

    This is proof of Idiot Americans carrying out dirty deeds in countries where they don’t belong.

    Thank God for this great gift on a Friday night 😘

    • Replies: @RadicalCenter
  118. @James Scott

    Anyone speaking of ‘a billion Chinese slaves’, is lost to reason. The Sinophobia brainwashing, the most intense such campaign ever, has really primed the Yankee Doodle Undead for war. Genocidal war, of course.

  119. @Arami

    Another human suppository. Where do they manufacture them? Tel Aviv, one presumes.

  120. @nokangaroos

    The military, every time. As Krugman wisely observed, the US dollar is backed by ‘…men with guns’. Of course he should have said ‘persons’, but you get the gist.

    • Agree: nokangaroos
  121. Anon001 says:

    Just an FYI – Russian ruble is not gold-pegged [1][2]3]!

    [1] The gold-pegged ruble: System failure – Edward Slavsquat

    [2] IMF-obedient Bank of Russia rejects gold-backed ruble

    [3] Nabiullina said that the Central Bank is not discussing the peg of the ruble to gold:

  122. Mikael_ says:

    Your daydreaming is impressive. At times you sound very similar to a tulipcoin fanboi.

    Last try by me:
    1. If you want to create “an alternative to the u.s. dollar”, it has to be freely tradable.
    2. Your gold-backed alternative (GBC), to live up to its name, needs to be -if taken to the extreme- convertible to physical gold, on demand.
    3. Between the USD and your GBC, freely tradable in an open market, an exchange rate will become established.
    Q: What would be the correct rate?
    A: It would be GBCUSD = ∞ [infinity]
    But due to cluelessness, propaganda, fake markets, hook or crook, it will be lower than that. So most owners and their GBCs will soon be parted, by freshly printed USD fiatsos if you really think it through.

    (And that’s just the first of the problems a gold-backed alternative to fiat would face.)

    • Troll: Notsofast
    • Replies: @Bro43rd
  123. Bro43rd says:

    Irony, you have it mastered!

  124. @Wokechoke

    The ruble is monetary rubble. It was never guaranteed by any precious metal or commodity except in the imagination of Soviet make-believers, who have managed to die off far harder than expected through legacy jobs for contrary regimes. It is Monopoly toy money essentially. The US dollar is mere paper money but it is still guaranteed by bullets (the exchange value is lead off your head rather than gold in your hand) all over the world even if no longer worth any metal more precious than lead, but it is more than Monopoly toy money, which the ruble is : it can be used in practice only among Russians when too poor to afford a howsoever harder currency, and only in the play-grounds assigned by the Kremlin to their governees as to so many children. It may be, and we may pray, that Putin dream otherwise and righteously so, but that is the sad reality. In particular the common ruble as used by the commoners is not guaranteed against oil or energy as the Gulf countries’ monies are : the oligarchs that do access these underground deposits don’t count in rubles — I suspect that to be rather done in shekels — even like the Saudi princes may count in riyals. The only money next to ruble in play money likeness for care-centre kids is the CFA franc.

    • Disagree: RadicalCenter
  125. Pixo says:
    @Yukon Jack

    Good points, only thing I don’t agree is there will ever be a gold backed crypto. Crypto is decentralized. How can you ever back it with physical gold? The holder of gold has to be trusted and honest. And if you are going to trust a central actor, why screw around with blockchains, just issue gold backed notes.

    • Replies: @Bro43rd
  126. Gold Bug says:

    Problem with that crypto crap backed by Gold is who knows if the Gold is really there, Just like other so called stable coins that are supposedly backed by fiat that don’t exist to back them up. Screw that crypto crap only Gold is money not paper backed certificates that can’t be traded in for Gold or especially crypto crap that you can’t see or hold but is completely imaginary. Just digits in a computer. Keep your crypto crap because that is all it is, is crap 💩

  127. Cook-ie says:

    News says more documents found in Bidens home office.

    Cut the man some slack! He was just recycling by cutting them up for toilet paper.

    Maybe Greta should get arrested again for defending him?

  128. @Palmm

    Investing is not the same as simply holding money because every type of investment presents a greater or lesser risk. If the USD were the golden store of value (pun intended) its fans present it as instead of the Zimbabwe dollar’s uppity cousin, which it is, then it wouldn’t be necessary to make any kind of investment if all you wanted were to retain the value of your capital.

  129. Bro43rd says:

    That’s why it’s a digital currency, not crypto. As long as the issuer doesn’t inflate and only issues DC according to the amount of gold held I see no problem with DC. Regular auditing would be necessary to ensure against inflation & develop trust among the users.

    • Replies: @Notsofast
  130. @Priss Factor

    They deserve it because they are “all in” with destabilizing countries… So they deserve all the people from Libya and Burkina Faso and Mali… Just like the US deserves all the people from Cuba and Venezuela etc etc. (Syria and Libya and Iraq are too far). I give France a pass as regards Iraq because they didn’t support the US invasion there. But in that case they should send the US a bill for any Iraqis.

    • Replies: @Malla
  131. @Alita99

    united nations, g7, g20, wef, and some others were created by rockefellers, but people are yelling at other families (which are rockefellers’s minions).

  132. Rubicon says:

    Maybe this author needs to tune back into the economist Dr. Michael Hudson who has recently talked about the never-ending Brazilian Problem:

    In essence, Hudson pointed out that any currency & fianancial changes will NEVER be allowed to develop because:

    For decades, the US Financial System & the Brazilian Aristocrats, have been in full possession of ALL Banks and ALL financial transaction in Brazil.

    Hudson says, in order to make any changes, there would have to be A Massive Citizenry Revolution take place before anything changes.

    The chances of Lula, at the age of 75, being able to politically, financially change that matrix are about 2%. But then, the article here, doesn’t going into that minor detail; does it?

    • Replies: @mulga mumblebrain
  133. Notsofast says:

    agree and especially when the currency is issued by russia, a country with vast untapped gold reserves that are yet to be explored. this is not sam bankster-fraud and his ftx ponzi scheme.

  134. Malla says:

    Again, a low IQ comment. Why are those Governments allowing them in? I go and fuck with iraq say, and do not allow them in. The truth is Invite the World and Invade the World go hand in hand. The elites want to use White countries they control as weapons but also want to allow foreign infiltrators from the Third World as weapons against White populations at home.
    Now you are very comfortable with the second laf of their operations because of your inherent vicious hatred for White people but both go hand in hand.

    As far as Cubans escaping Cuba, that is because Cuba is inherently a failure where the elite Castro family owns and runs the place to the ground.

    • Agree: Bro43rd
    • Replies: @showmethereal
  135. @Rubicon

    Yes-that is why China is the only country to have escaped the blood-suckers. Over one hundred years of foreign intervention, invasion, genocide and civil war and tens of millions of deaths were required, but they emerged with the parasites dispersed or dead. Brazil will fail again and again because the economy is owned and controlled by the leeches, who have the Army and Uncle Satan in Thanatopolis DC as a fall-back. Not to mention the latest disaster-the tens of millions driven mad by the Pentecostal poison, courtesy of the USA.

  136. @Malla

    Low IQ is not understanding correlation nor causation. Last I checked the EU was mad at Turkey for mocking them and letting refugees into the EU. NATO so destroyed Libya no one can do anything there…. Maybe they all have higher IQ than you because they know if enough try some will be stopped but some will get through. Overwhelm the system and the countries have little choice than accept some. It doesn’t take that much intelligence does it??? All similar to the US – Mexico border. Cubans go there now because it’s a better chance than sailing to Florida and being intercepted. Again seems Cubans are smarter than you.
    And if the Castros ran Cuba into the ground there is no need to embargo them. Only a low IQ or sadistic person who likes seeing poor people suffer could think so. In the same way Venezuelans didn’t go in large numbers until US sanctions.

    Plus as a supposed Indian you sound pathetic since westerners put poor Indians in the same category as refugees. They even complain about those in the US on H1B visas. But I know you are afraid to address them.

    Btw – don’t you get bored following around chasing my comments? It’s weird really.

    • Replies: @Malla
    , @Malla
  137. Malla says:

    Maybe they all have higher IQ than you because they know if enough try some will be stopped but some will get through. Overwhelm the system and the countries have little choice than accept some.

    Nope, they can be stopped. A third world country like India could have stopped them easy. The truth is the governments of the West wanted these “refugees”, indeed there had been cases where NATO operatives have been helping these “refugees” into Europe. It is all part of the invade the World, invite the World policy of the Western elites. Both go hand in hand. And as non Whites increase in these countries more likely of these countries to further interfere in global affairs as they form lobbies.

    there is no need to embargo them.

    There is no embargo. All Cuba is asked is to pay in cash upfront as the Castros have a bad reputation of looting others.

    Plus as a supposed Indian you sound pathetic since westerners put poor Indians in the same category as refugees.

    What? Westerners are behaving like normal human beings by protesting the demographic change enforced upon them by their Governments. The same Governments who act against China. Thus there was a chance of an alliance with Western populations against the invade the World and Invite the World policy of western alites. But because of excessive genocidal hatred Chinese have towards Western White people, that did not and will not happen.

    They even complain about those in the US on H1B visas. But I know you are afraid to address them.

    I am afraid to address that? LOL when did that happen? I oppose the HiB visas as well. If such visas were given in such large numbers to foreigners to come to India, there would have been riots in India by now. Westerners are very tolerant, but too much tolerant only bites back. Especially since most third Worlders are exploitative and opportunistic.

    • Troll: showmethereal
  138. Malla says:

    Btw – don’t you get bored following around chasing my comments? It’s weird really.

    Don’t you feel awkward flattering yourself soo much? It is wierd really. Are there these people called psychiatrists in the place you live, somewhere around? You should pay them a visit.

    • Troll: showmethereal
  139. @Pixo

    Seething gold bugs and third worlders have been predicting the collapse of the dollar every single year since 1980.

    Gold 1980 = $630

    Gold 2023 = $1900

    Or, put another way, one US Dollar today = 1/3 of one US Dollar 1980.

    Looks like those “seething gold bugs and third worlders” had a point.

    Inflation = dollar collapse.

    Low inflation = slow collapse.

    High inflation = fast collapse.

    Go ahead, short the dollar, buy ponzi “digital assets.” See what happens.

    Same thing as with all ponzis, presumably. Don’t buy ponzis.

  140. @Sarita

    That’s terrible. But US troops have needlessly murdered and maimed so many people far from its borders over the past century, maybe in your country, that I have to understand your anger.

    Also he was wrong and foolish to go risk his life with a wife and baby at home relying on him, especially when his country was in zero danger from Russia or its ukraine invasion / re annexation.

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